January 23 2025
Reef Daily
Reef Daily | January 23 2025
Housing Market Update
Latest Market Data (January 23, 2025) The median sale price reached $378,144, up 5% year-over-year, marking the smallest increase since October. Pending sales declined 10.1% to 51,122, the biggest drop since October 2023. Active listings increased 8.8% to 859,262, though this represents the smallest increase in nearly a year.
Construction Activity Texas new home sales showed strong performance, with December sales up 5% across its four largest markets and 14% higher year-over-year. Dallas-Ft. Worth reported 1,990 sales, Houston 2,184, San Antonio 1,075, and Austin 834.
Mortgage Rates
Current rates as of January 23, 2025:
Type | Today's Rate | Last Week's Rate |
---|---|---|
30-year fixed | 7.05% | 7.13% |
15-year fixed | 6.36% | 6.38% |
5/1 ARM | 6.29% | 6.39% |
Future Forecasts Fannie Mae has revised its outlook, now predicting 30-year rates will only drop to 6.5% by year-end and 6.3% by the end of 2026.
Notable Transactions
Commercial Highlights
- Boston investment group acquired The Argonne apartment complex in Denver for $99 million, featuring 14 buildings on 16.7 acres
- Good Meats LLC purchased a 50,000-square-foot building in Hauppauge for $19 million
- Ashleigh Trading Ltd. acquired a 10,000-square-foot industrial building in West Babylon for $2.175 million
Regional Activity Wisconsin showed strong December performance with home sales jumping 9.2% and median prices rising 13% to $305,000. Texas new home markets demonstrated resilience with Houston, Dallas, and San Antonio all reporting increased sales.
Market Indicators
Inventory Trends New listings increased 17.9% nationwide, marking the highest number since October. Active inventory is up 25.1% compared to last year, continuing a 63-week streak of year-over-year increases.
Buyer Demographics Median days on market increased to 52 days, the highest level in two years. The share of homes sold above list price decreased to 21.3% from 23%.
Regional Developments
West Los Angeles is experiencing a spike in rental demand due to residents displaced by wildfires.
South Texas new home prices increased across major markets: Dallas-Ft. Worth ($493,899), Houston ($401,678), Austin ($494,714), and San Antonio ($344,343).
Sources
- redfin.com
- globenewswire.com
- foxbusiness.com
- libn.com
- stocktitan.net
- realtor.com
- bizjournals.com
- noradarealestate.com
- pigeon605.com
- atlanticcouncil.org
- nationalmortgageprofessional.com
- stocktitan.net
- neworleanscitybusiness.com
- calculatedrisk.substack.com
- newswire.com
- bloomberg.com
- drydenwire.com
- noradarealestate.com
- realtor.com
- businessinsider.com
- investopedia.com
- stocktitan.net
- finance.yahoo.com
- realestatenews.com
- prnewswire.com
- kansascityfed.org
- lanereport.com
- hsr.ca.gov
This newsletter is for informational purposes only and should not be considered as financial advice.
© 2025 Reef Insights. All rights reserved.
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